Ireland’s 2024 in Structured Finance So Far: The View From the Top

Ireland has seen EUR 15.7 billion in new issuance so far this year—the highest volume in Europe. Most of it comes from one RMBS deal that totalled a whopping 13.4 billion (Luna Securities Designated Activity Company). In general, we expect the country’s prime mortgages to have stable performance in 2024 but hold a negative view for reperforming mortgages. Credit ratings have been stable this year, too; we have neither upgraded nor downgraded any Irish securitisations we rate yet.